Government Motors, Part 3

What struck me more than anything about Monday's announcement on General Motors by President Obama was the way that he and White House officials addressed questions about day to day operations at GM.

I'm not sure most of America is on the same page though as the White House.

"What we are not doing - what I have no interest in doing - is running GM," said the President during his announcement on GM Monday.

Mr. Obama said a "private" board of directors will run the ship.

"They - and not the government - will call the shots and make the decisions about hnow to turn this company around."

Let's ask for a show of hands out there on whether this is going to work.

Not exactly an overwhelming endorsement I'd expect.

Much of Monday's announcement was met with a skeptical furrowing of the brow in Washington, as Republican leaders slammed the GM decision.

"Does anyone really believe that politicians and bureaucrats in Washington can successfully steer a multinational corporation to economic viability?" asked House GOP Leader John Boehner.

"It's time for the Administration to fully explain what the exit strategy is to get the U.S. government out of the board room once and for all," he added.

There were no real answers about that yesterday, which of course only feeds the speculation that this might not be exactly the best financial deal for the feds, who will soon own 60% of the new GM.

Reporters and the White House Press Secretary did the ritual dance about what's next, as Robert Gibbs did his best to sidestep questions about when it might be possible to sell the government's GM stock and move on to something else.

One thing that has certainly changed is that no longer can this administration just blame the previous occupant of the White House when it comes to the troubles of GM and Chrysler.

They've succeeded in putting both companies through bankruptcy.

And whatever happens next now has the fingerprints of Team Obama all over it.

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